Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 51:

  An example of vertical integration is___________

  Options:
  A) Trust
  B) Cartel
  C) Merger
  D) Price Ring
  Show Answer
  The correct answer is A .
• Question 52:

  EXTERNAL ENVIRONMENT → INTERNAL ENVIRONMENT → EXTERNAL ENVIRONMENT

  Which of the following sequences can best fit into the structure above?

  Options:
  A) People → control → ideals
  B) Material → production → ideas
  C) Finance → marketing → production
  D) Material → production → product
  Show Answer
  The correct answer is D .
• Question 53: The significance of money to modern economic system is that it? Options:
  A) is used as a means of payment
  B) promotes specialization and exchange
  C) measures value and promotes exchange
  D) causes inflation in the economy
  Show Answer
  The correct answer is C .
• Question 54: The mode of transporting crude oil to the ports for export purposes is by Options:
  A) tanker
  B) rail
  C) road
  D) pipeline
  Show Answer
  The correct answer is D .
• Question 55:

  $\begin{array}{cc}N& N\\ \text{Capital 8000}& \text{Plant and machinery 5000}\\ \text{Net profit 4000}& \text{Motor van 4500}\\ \text{Drawings 200}& \text{Stock 2000}\\ \text{Creditors 2000}& \text{Debtor 1000}\\ \text{Accruals 300}& \text{Bank 100}\\ & \text{Cash 600}\\ 14100& 14100\end{array}$

  What is the acid ratio?

  Options:
  A) 1.13 : 1
  B) 2 : 1
  C) 4.75 : 1
  D) 4.25 : 1
  Show Answer
  The correct answer is A .
• Question 56:

  The board of directors of public enterprise is appointed by who?

  Options:
  A) Employees
  B) management
  C) government
  D) shareholders
  Show Answer
  The correct answer is D .
• Question 57: The slogan, a wonderful world, used by a communication network is a form of? Options:
  A) product differentiation
  B) persuasive advertising
  C) publicity
  D) packaging
  Show Answer
  The correct answer is B .
• Question 58:

  Examples of current assets are

  Options:
  A) cash and trade debtors
  B) cash and trade creditors
  C) trade debtors, trade creditors and cash
  D) trade creditors and trade debtors
  Show Answer
  The correct answer is A .
• Question 59:

  The agency that currently oversees the privatization and commercialization processes in Nigeria is the

  Options:
  A) Nigerian Stock Exchange
  B) Technical Committee on Privatization and Commercialization
  C) Securities and exchange commission
  D) Bureau of public enterprises
  Show Answer
  The correct answer is D .
• Question 60: Which of the following services does a lawyer render? Options:
  A) industrial services
  B) indirect services
  C) direct services
  D) commercial services
  Show Answer
  The correct answer is C .